ECCP at Work

Philippine factory activity returns to growth in May, PMI shows

Philippine factory activity bounced back in May as stronger domestic demand boosted output and new orders, although supply chain disruptions and rising costs linked to the Middle East conflict continued to weigh on manufacturers, S&P Global said on Monday.

Philippines moves to build strategic petroleum reserves

Motorists may get some relief from high fuel costs this week as pump prices are set for a major rollback, while the government moves to build strategic petroleum reserves to shield the Philippines from future oil supply shocks linked to the war in the Middle East.

Political noise to weigh on economy – think tank

Political uncertainty and concerns over institutional credibility are emerging as bigger risks to the Philippine economy, with the fallout now being felt in investor sentiment, peso and monetary policy expectations.

Visayas in dire need of new baseload power plants, says Garin

The thin electricity supply in the Visayas will be a “prolonged problem” as the region needs more baseload facilities to complement the growing operations of renewables, according to the energy secretary.

‘MSME support to sustain export growth momentum’

The Department of Trade and Industry (DTI) is looking to sustain the country’s export momentum through continued support for exporters, particularly, micro, small and medium enterprises (MSMEs), amid global uncertainties and an evolving trade landscape.

Marcos orders DA to shield rice farmers from losses

President Ferdinand Marcos Jr. has ordered the Department of Agriculture to protect rice farmers from losses in the coming wet-season harvest as El Niño risks, higher fuel prices, and rising fertilizer costs threaten farm margins.

Inflation likely quickened further in May – analysts

Inflation likely accelerated further in May and may have hit its fastest pace in more than three years as food, fuel, utility and currency pressures kept consumer prices elevated, according to economists.

Philippine central bank weighs stronger response to combat inflation

The Philippine central bank said on Monday it may consider a stronger monetary policy response if elevated inflation expectations become entrenched, vowing it “will take all necessary action” to ensure that inflation returns to its 3% target.

NG gross borrowings sharply decline in April

The National Government’s (NG) gross borrowings declined by over 66% in April amid significantly lower domestic debt, the Bureau of the Treasury said.

DBCC adjusts fiscal targets, Palace says

The Development Budget Coordination Committee (DBCC) adjusted its fiscal targets following a weaker-than-expected first-quarter growth and surging inflation in the face of the Middle East crisis, the Palace said on Monday.

ECCP names Diana Edralin as president, welcomes new board of directors

The European Chamber of Commerce of the Philippines (ECCP) on Tuesday (May 26) named its new President and welcomed two new members to its Board of Directors during its Annual General Membership (AGM) Meeting and Sunset Socials held at the Marquis Events Place in Bonifacio Global City, Taguig City.

ECCP elects pharma exec as first female president

Business group European Chamber of Commerce of the Philippines (ECCP) has elected pharmaceutical executive Diana Edralin as its first Filipina and first female president.

Peso nears record low as markets eye Iran deal

THE PESO sank on Monday, closing just a tad better than its record low, as markets sought the safety of the dollar while awaiting news on the peace talks between the United States and Iran.